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Goldman Sachs fully exited its XRP and Solana ETF positions in Q1 2026, according to the bank's latest 13F filing, after previously holding roughly $154 million in XRP ETFs. The bank also cut its Ethereum ETF exposure by about 70%, bringing that position down to around $114 million.
Why it matters
The headline reads bearish for altcoin ETF products, but the 13F is better framed as a rotation than a retreat. Goldman still holds approximately $700 million in Bitcoin ETFs, signalling that the sell-side conviction in BTC exposure remains intact even as the bank steps away from single-token altcoin wrappers. The bank also increased equity stakes in Circle, Galaxy, and Coinbase while trimming holdings in Strategy, IREN, Bit Digital, and Riot — a rebalance toward regulated market infrastructure and away from miners and BTC treasury proxies.
Market impact
A Goldman exit from a thin ETF product is a meaningful validator-of-demand signal, since institutional launches depend on anchor holders to sustain secondary liquidity. The 70% ETH ETF trim lands alongside a broader year of lukewarm flows into spot Ethereum products, and the bank had been one of the more visible disclosed holders. Watch the next 13F cycle for whether other bulge-bracket names follow the same rotation, and whether spot XRP and SOL ETF AUM compress further on the back of the exit.
Frequently asked questions
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Did Goldman Sachs sell all of its Bitcoin ETFs?
No. Per the Q1 2026 13F filing, Goldman still holds approximately $700 million in Bitcoin ETFs. The bank exited only its XRP and Solana ETF positions and trimmed its Ethereum ETF exposure by about 70%.
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How much did Goldman hold in XRP ETFs before exiting?
The bank's prior 13F disclosed roughly $154 million in XRP ETF positions before Goldman fully exited the position in Q1 2026.
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What is Goldman's new Ethereum ETF position?
Goldman cut its Ethereum ETF exposure by approximately 70%, leaving the position at around $114 million as of the Q1 2026 13F.
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Which stocks did Goldman increase in the same quarter?
Goldman added to positions in Circle, Galaxy, and Coinbase while reducing holdings in Strategy, IREN, Bit Digital, and Riot.
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What does the Goldman 13F signal for crypto markets?
The filing reads as a rotation toward regulated crypto infrastructure and away from altcoin ETF wrappers and miner equity, while Bitcoin ETF conviction remains intact at roughly $700M.
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